Property briefs

The three US hedge funds that this week failed to oust
Charter Hall Group
as the responsible entity of
Charter Hall Office
have pledged to maintain their co-operation agreement for a further three months. Orange Capital, Point Lobos Capital and Luxor Capital control 19.3 per cent of the trust.Ainslie Chandler

Funds manager
Mariner Corporation
has lodged a takeover bid for listed group
Viento
at 17¢ a share. Mariner said the offer was at a 26 per cent premium to the trading price when the bid was lodged. The company had completed a bookbuild to fund the takeover, Mariner chief executive Darren Olney-Fraser said. Viento has a market capitalisation of about $7.6 million and the bid values the company at $9.25 million. Mariner already holds 8.9 per cent of the company’s stock. Viento said the offer was unsolicited and it had not been in discussions with Mariner. Viento appointed Arnold Bloch Leibler as its advisor. Ainslie Chandler

A prime grazing property east of Wagga Wagga has sold for more than $1.1 million. “Innisfail" includes more than 350 hectares of productive land and has a carrying capacity of 4500 sheep. The property is in an area of high rainfall and has a number of spring-fed dams. Bill Schulz of Landmark Wagga Wagga brokered the deal. Scott Elliott

Global real estate group Cushman & Wakefield has completed a five-year $US500 million ($454 million) senior secured credit agreement to provide additional borrowing capacity, greater flexibility and more favourable terms. President and chief executive Glenn Rufrano said transaction was a key step in the group’s strategic plan and global growth initiatives. Robert Harley

Victorian Planning Minister
Matthew Guy
has rebuked media reports that Melbourne’s green wedge areas are under threat. In a statement, Mr Guy said he was engaging local councils in the growth areas to remove any “anomalies" with regards to the urban growth boundary. He said there were three planning reviews under way but there would be no “massive land use changes".